Shopify (NYSE:SHOP) Price Target Raised to $100.00 at Barclays

Shopify (NYSE:SHOP) (TSE:SHOP) had its price objective raised by Barclays from $93.00 to $100.00 in a research report released on Wednesday morning,Benzinga reports. The firm currently has an equal weight rating on the software maker’s stock.

SHOP has been the subject of a number of other research reports. Cantor Fitzgerald reissued a “neutral” rating and issued a $120.00 target price on shares of Shopify in a report on Wednesday. The Goldman Sachs Group lifted their price objective on Shopify from $88.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Mizuho upped their target price on shares of Shopify from $68.00 to $105.00 and gave the company a “neutral” rating in a research note on Wednesday, November 13th. Truist Financial increased their price objective on shares of Shopify from $65.00 to $110.00 and gave the company a “hold” rating in a research report on Wednesday, November 13th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $125.00 target price on shares of Shopify in a research report on Tuesday. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $125.14.

Shopify Stock Performance

Shares of SHOP opened at $120.46 on Wednesday. The business’s 50 day moving average price is $111.29 and its 200-day moving average price is $91.82. The stock has a market cap of $155.65 billion, a P/E ratio of 112.58, a P/E/G ratio of 2.49 and a beta of 2.47. Shopify has a 52 week low of $48.56 and a 52 week high of $125.95. The company has a quick ratio of 7.10, a current ratio of 7.10 and a debt-to-equity ratio of 0.09.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its quarterly earnings results on Tuesday, February 11th. The software maker reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.10). Shopify had a net margin of 16.84% and a return on equity of 11.60%. Equities research analysts anticipate that Shopify will post 0.91 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Shopify

Hedge funds and other institutional investors have recently made changes to their positions in the company. Allianz SE bought a new position in Shopify during the 4th quarter valued at about $27,000. PFG Private Wealth Management LLC grew its stake in shares of Shopify by 3,657.1% during the fourth quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker’s stock valued at $28,000 after buying an additional 256 shares during the last quarter. Mark Sheptoff Financial Planning LLC grew its stake in shares of Shopify by 50.0% during the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker’s stock valued at $32,000 after buying an additional 100 shares during the last quarter. New Wave Wealth Advisors LLC purchased a new stake in shares of Shopify in the fourth quarter worth approximately $39,000. Finally, Mather Group LLC. lifted its stake in shares of Shopify by 84.8% during the 4th quarter. Mather Group LLC. now owns 401 shares of the software maker’s stock worth $43,000 after acquiring an additional 184 shares during the last quarter. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Shopify Company Profile

Shopify Inc, a commerce company, provides a commerce platform and services in Canada, the United States, Europe, the Middle East, Africa, the Asia Pacific, Australia, China, and Latin America. The company’s platform enables merchants to displays, manages, markets, and sells its products through various sales channels, including web and mobile storefronts, physical retail locations, pop-up shops, social media storefronts, native mobile apps, buy buttons, and marketplaces; and enables to manage products and inventory, process orders and payments, fulfill and ship orders, new buyers and build customer relationships, source products, leverage analytics and reporting, manage cash, payments and transactions, and access financing.